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Ep 10: The Resurgence of Adjustable-Rate Mortgages

With inventory still low, the market is still rough out there for buyers. At the same time, interest rates are rising with inflation proving to be a bigger issue than anticipated. On today’s episode, we are going to discuss a CBS article that relates to some of these issues. With rising interest rates are borrowers returning to adjustable-rate mortgages, a staple of the 2008 housing market crash?

We’ve certainly been asked about these mortgages more recently as people try to maintain the interest rates we saw 6 months ago. But when we go through the full analysis there’s not enough disparity between a fixed rate and an adjusted rate to make a lot of sense right now. Join us today as we discuss adjustable-rate mortgages, how they impact the market, and what we can expect to see going into the future.

CBS Article: https://www.cbsnews.com/news/mortgage-rates-4-percent-adjustable-rate-mortgages-housing/

If you have questions about a mortgage or refinancing you can get your 15-minute free consultation with Bill: https://calendly.com/blitton/30min?month=2022-01

 

TIMESTAMPS:

0:21 – What has caught your eye in the mortgage world?

3:31 – Are adjustable rate mortgages coming back?

4:54 – What is an ARM and how did it impact the housing bubble?

7:04 – When does an ARM make sense for someone?

8:18 – Will we see ARMs continue to increase?

9:01 – Pros and cons of an ARM

10:00 – It’s more about the advisor than the product

10:54 – How do we avoid another 2008 housing crisis?

 

QUOTABLE MORTGAGE MOMENT: 

An adjusted rate mortgage is a really good product when someone has a clearly defined plan…

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